Arusha, Tanzania-based solar energy provider Off Grip Electric scored $7 million in a funding round led by Vulcan Capital, SolarCity, and Omidyar Network to power homes with prepaid electricity.
Tags: Africa
Advanced Finance and Investment Group (AFIG) to raise USD200 million investment for SMEs in Africa
Advanced Finance and Investment Group (AFIG) would raise USD200 million investment for SMEs in Africa in the next two years, said a report from Ventures Africa.
Irish hotel booking startup Hot Hotels bags $1M for international expansion
Ireland-based same-day hotel booking startup Hot Hotels bagged $1 million (€730,000) in funding from private investors and accelerator funds to fuel its expansion into Europe and South America.
Databank Financial Services launches private equity fund for agricultural sector in Africa
Databank Financial Services has launched a private equity fund to cater to small and medium industries in Africa's agricultural sector.
Sanofi looking growth in Africa through acquisitions
Sanofi is looking to grasp a good hold in Africa through acquisition of business units, according to the firm's CEO Chris Viehbacher who told Reuters.
Latest News
San Francisco, US-based health tech firm Metabiota pocketed $2.38 million in a venture round to monitor emerging threats of viral diseases around the world using big data analysis.
Bangalore, India-based mobile payment startup Ezetap Mobile Solutions is raising an unknown amount of additional capital from credit card giant American Express just a month after it had closed $8 million in its Series B round.
Nigeria-based mobile security startup i.Sec nabbed $10 million in a funding round from private equity group Synergy Capital to prepare for its public launch this May and for other undisclosed purposes.
Washington, US-based private equity firm Emerging Capital Partners (ECP) is acquiring a 33% interest in Algeria-based PepsiCo Inc bottler Atlas Bottling Corp for an undisclosed amount as part of an expansion plan.
Social media giant Facebook is reportedly in talks to purchase New Mexico, US-based drone maker Titan Aerospace for $60 million to reach the corners of the world with no Internet access.
West Perth, Australia-based public exploration and mining firm Golden Rim Resources raised $491,000 in placement to continue developing its Balogo project in Burkina Faso, Africa while the firm is still trying to determine other funding options.
For the past 18 months, small and medium enterprises (SMEs) in Africa bagged $10 million in investment from London, UK-based non-profit business development organization African Private Equity & Venture Capital Association (AVCA).
Private equity investments in sub-Saharan Africa totaled $1.6 billion in 2013, an increase of 43% from the year before. Sectors in the region which received most investments were energy and natural resources and banking and financial services.
US tech giant Microsoft selected five African tech startups to receive innovation grants, technical support, and mentorship from Microsoft under its venture arm extension, the Microsoft 4Afrika Initiative.
